Business Context and Reporting Period
This Form 8-K Current Report was filed by American Public Education, Inc. on June 11, 2018. The filing addresses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance regarding the external auditor.
Material Changes
- Dismissal of Auditor: On June 11, 2018, the Audit Committee dismissed RSM US LLP as the independent registered public accounting firm, effective immediately.
- Engagement of New Auditor: On June 11, 2018, the Audit Committee engaged Deloitte & Touche LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2018.
- Audit History: The audit reports issued by RSM for the years ended December 31, 2017, and 2016 were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
- Disagreements: The Company reported no disagreements or reportable events with RSM during the fiscal years 2016 and 2017 or the interim period through June 11, 2018.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business operations. The transition to Deloitte followed a competitive review process. No consultations regarding accounting principles or audit opinions were conducted with Deloitte prior to their engagement.
Investor Verification Checklist
- Verify the content of the letter from RSM US LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor future filings to confirm the scope and timing of Deloitte's initial audit work for the fiscal year ending December 31, 2018.
- Review subsequent 10-Q or 10-K filings to ensure no undisclosed disagreements or reportable events are later revealed.